HC Wainwright Reiterates Buy Rating for argenx (NASDAQ:ARGX)

HC Wainwright reaffirmed their buy rating on shares of argenx (NASDAQ:ARGX) in a research report released on Wednesday morning,Benzinga reports. The firm currently has a $617.00 price objective on the stock.

A number of other research firms have also recently commented on ARGX. Wells Fargo & Company boosted their target price on shares of argenx from $547.00 to $639.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their price objective on argenx from $640.00 to $670.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. JMP Securities raised their target price on argenx from $497.00 to $606.00 and gave the company a “market outperform” rating in a research report on Friday, November 1st. Citigroup lifted their price target on argenx from $512.00 to $635.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Oppenheimer increased their price objective on argenx from $560.00 to $646.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, argenx presently has a consensus rating of “Moderate Buy” and a consensus price target of $619.79.

argenx Trading Up 3.0 %

NASDAQ ARGX opened at $591.82 on Wednesday. argenx has a twelve month low of $327.73 and a twelve month high of $611.22. The stock has a 50-day moving average of $555.08 and a 200 day moving average of $485.94. The stock has a market capitalization of $35.39 billion, a price-to-earnings ratio of -672.52 and a beta of 0.61.

argenx (NASDAQ:ARGX) last announced its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $1.29. The firm had revenue of $588.88 million for the quarter, compared to analyst estimates of $543.29 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. During the same quarter last year, the firm posted ($1.25) EPS. Equities analysts predict that argenx will post 2.2 EPS for the current fiscal year.

Institutional Trading of argenx

Several institutional investors have recently added to or reduced their stakes in ARGX. Fiera Capital Corp boosted its position in shares of argenx by 2.2% during the second quarter. Fiera Capital Corp now owns 165,595 shares of the company’s stock worth $71,212,000 after buying an additional 3,506 shares during the period. Cetera Advisors LLC purchased a new position in argenx during the 1st quarter valued at about $419,000. Simplify Asset Management Inc. grew its position in argenx by 64.0% in the 3rd quarter. Simplify Asset Management Inc. now owns 2,419 shares of the company’s stock valued at $1,311,000 after acquiring an additional 944 shares in the last quarter. Perpetual Ltd purchased a new stake in argenx during the third quarter worth about $76,314,000. Finally, Varma Mutual Pension Insurance Co lifted its position in shares of argenx by 20.0% during the second quarter. Varma Mutual Pension Insurance Co now owns 6,000 shares of the company’s stock worth $2,580,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 60.32% of the company’s stock.

argenx Company Profile

argenx SE, a biotechnology company, engages in the developing of various therapies for the treatment of autoimmune diseases in the United States, Japan, Europe, Middle East, Africa, and China. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, generalized myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, thyroid eye disease, bullous pemphigoid, myositis, primary sjögren’s syndrome, post-covid postural orthostatic tachycardia syndrome, membranous nephropathy, lupus nephropathy, anca-associated vasculitis, and antibody mediated rejection; ENHANZE SC; Empasiprubart for multifocal motor neuropath, delayed graft function, and dermatomyositis; and ARGX-119 for congenital myasthenic syndrome and amyotrophic lateral sclerosis.